Medical Gases and Equipment Market Analysis
Medical air, carbon dioxide, oxygen, nitrogen, nitrous oxide and helium are some of the gases used in the treatment and management of various diseases in the healthcare sector. Medical air compressors are used to supply contaminated- and particle-free air to patients at all times.
Global Medical Gases and Equipment Market: Drivers
The global medical gases and equipment market is expected to grow in the forecast period due to rising domestic healthcare costs. For example, according to Centres of Medicare and Medicaid service, the US expects to spend US$108.8 billion on home health care in 2019.
Furthermore, the establishment of industry-focused associations such as the Compressed Gas Association, the Medical Gas Association and the Gas and Welding Distributors Association is also expected to contribute to the growth of the market. Organizations help formulate policies that will ultimately help the market to thrive and prosper.
North America leads the global medical gases and equipment market in 2019, with a 41.3% share in terms of value, followed by Europe and Asia Pacific, respectively.
𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3826
Global Medical Gases and Equipment Market: Restraints
Increasing theft of medical gases and cylinders is expected to offset market growth. Medical gas theft, especially for nitrous oxide and ENTONOX (nitrous oxide-oxygen) cylinders, has caused unnecessary costs to healthcare organizations. However, the effect of this restraint will be less throughout the forecast period as organizations become more diligent and also seek the help of consulting firms.
Furthermore, contamination of medical gases with harmful substances is also expected to limit market growth. Crossing pipeline accidents also have an adverse effect on market growth.
Global Medical Gases and Equipment Market: Opportunities
Regular inspections of medical gas supply lines are expected to provide profitable growth opportunities for players in the global medical gases and equipment market. These checks should also be done by trained staff. Medical gas and vacuum systems should be inspected at every stage of construction and third-party certification should be mandatory.
Moreover, the growing number of surgeries is expected to help the market grow. For example, according to a 2017-18 report updated in August 2019 by a look at the Australian Institute of Health and Welfare Hospitals, admissions for emergency surgery increased by 2.9% in public hospitals in Australia and 5.1% in private hospitals between 2016-2017 and 2017-2018.
The global medical gases and equipment market was estimated to be valued at US$ 9,759.0 million in 2019 and during forecast period (2020 and 2027) it is expected to witness US$ 18,090.7 million at a CAGR of 8.0%.
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐅𝐥𝐚𝐭 𝟑𝟎% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.coherentmarketinsights.com/insight/buy-now/3826
Global Medical Gases and Equipment Market: Key Takeaways
The Covid-19 epidemic has prompted major governments to allow industrial gas producers to supply gas for medical use to meet the growing demand. For example, in April 2020, the Indian government allowed industrial oxygen producers to produce and sell gas for medical use.
In April 2020, the U.S. Department of Health and Human Services warned that more than 300 hospitals in the U.S. could suffer from a shortage of medical supplies.
Global Medical Gases and Equipment Market: Key Developments
Key players in the marker focus on increasing production capacity to meet the growing demand for medical gases and equipment. For example, Air Liquide S.A. Announced that CryopAL, a subsidiary of the company which built the freelox line of liquid oxygen vessels for medical use in April 2020, increased the production capacity of its freelox vessels from 100 vessels per week to 300 vessels per week.
Major players in the market focus on launching new products to expand their product portfolio. For example, in January 2020, BeaconMedaes LLC launched the new dMED Medical Air Purification module, a model that takes up 65% of floor space and is 35% lighter than previous designs, according to the company.
Global Medical Gases and Equipment Market: Segmentation
On the basis of Product Type, the Global Medical Gases and Equipment Market is segmented into:
- Medical gases
- Pure Gases
- Gas Mixtures
- Medical equipment
- Manifolds
- Outlets
- Hose Assemblies and Valves
- Alarm Systems
- Cylinders and Accessories
- Flowmeters
- Regulators
- Medical Air Compressors
- Vacuum Systems
- Masks
On the basis of Region, the Global Medical Gases and Equipment Market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Global Medical Gases and Equipment Market: Competitive Landscape
Key players performing in the global gases and equipment market are MATHESON Tri-Gas Inc., Airgas Inc., Medical Gas Solutions, Air Products and Chemicals Inc., BeaconMedaes LLC, Praxair Inc. (The Linde Group), and Air Liquide S.A.
𝐓𝐨 𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐇𝐞𝐫𝐞 @ https://www.coherentmarketinsights.com/insight/request-pdf/3826
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Technological Advancements
- Regulatory Scenario
- Mergers and Acquisitions
- Market Dynamics
- Medical Gases and Equipment Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Medical Gases
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Pure Gases
- Gas Mixtures
- Medical Equipment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Manifolds
- Outlets
- Hose Assemblies and Valves
- Alarm Systems
- Cylinders and Accessories
- Flowmeters
- Regulators
- Medical Air Compressors
- Vacuum Systems
- Masks
- Introduction
View Press Release: https://www.coherentmarketinsights.com/press-release/medical-gases-and-equipment-market-3092
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